Mona Mahajan, Senior Investment Strategist at Edward Jones, joins TheStreet to reveal the biggest investing mistake you can make - and how to avoid it.
Category
🥇
SportsTranscript
00:00And so what's one investment mistake you see people making over and over again and how can how can it be avoided?
00:09Yeah, you know probably the top investment mistake that folks make is letting their emotions
00:15Dictate some of their investment decisions, and we see that in in different part types of markets as well
00:22If you see big drawdowns in the markets, you know, we know that corrections are part of any given market cycle
00:28But if you haven't been through many market cycles, you may
00:32May see some of these drawdowns and think it's time to get out of the market
00:37So what we'd say is
00:38The number one thing to think about when you are starting your investment journey is time in the market is much better than timing
00:46Yourself in and out of the market and I would say when you kind of time yourself in and out
00:50You have two decisions to make when you're gonna sell and when you're gonna buy to get back in and so we'd say is
00:57For many many investors this idea of
01:00Staying the course being a long-term investor using volatility to your advantage to add to investments rather than selling at that point
01:09those are the types of
01:12Thought processes and those are the type of strategies. We really want all investors to embrace
01:17Not letting emotions get the best of you when you're making investment decisions
01:22And again when you work with someone this makes a little easier because they are the ones that are guiding you and they are the
01:28Ones that can take the emotions out of these decisions as well